Heed These Common QuickBooks User Speedbumps

QuickBooks is a boon to small and medium business accounting. It helps owners and managers maintain book-keeping and to track all their accounts sans a zillion spreadsheets, tables, charts and books. It quite cleverly helps one manage their sales, inventories, invoices, payroll, balance sheets, tax, yada yada… However, as is the case with any software, it is possible for users …

Watch Out! Book-keeping errors SMBs fall into

If your books and accounts are sloppy, unmethodical and careless, you can’t expect to derive any insightful financial understanding of your company’s overall performance. Slipshod books don’t just beget naught; they usually lead to: misinformation ill-founded decisions vulnerability and jeopardy of the company Here are some practical ways to avoid typical inflammatory errors: Don’t Be Chaotic: Paper trails don’t belong …

Efficacy derived from outsourced accounting

Outsourcing the accounting of your business provides various favourable boons, from the luxury of having the experts handle your work, to the reduced cost efforts for that same work. In this blog we dwell on how the efficacy assured from outsourced accounting delivers particular leverages that you are bound to be better off with. Firstly, while change is difficult and …

Transaction-based pricing as the next big paradigm shift

The traditional FTE-based pricing model has been the gold standard in the outsourcing industry.  It is by far the most commonly used model since it is less complex. FTE-based pricing offers you the advantages of easy implementation, tracking and benchmarking. But the question that arises is is it going to stay that way forever? With increased buyer-sophistication and high competition, the …

Baselining before embarking on an Outsourcing Program

While there is a lot of content and guides on how to outsource your finance and accounting, when to outsource, or what to outsource, one area that really needs attention is measurement of performance. In the process of transitioning the operational procedures of one of the leading real estate companies in the US, we were surprised to find how the …

6 questions to ask your prospective outsourcing partner

It is a known fact that Finance & Accounts processing outsourcing can give you tremendous cost benefits. However, a survey pointed out that the biggest reason some companies haven’t embraced this model yet is for fear of giving away a critical function of the organization to an outsider. Secondly, companies question how they can evaluate them for effectiveness. The best …

Growth of financial outsourcing

According to the latest report from KPMG (a global consultancy firm), the financial and accounting services outsourcing industry is going to be worth $5 billion by the year 2010. The entire knowledge process outsourcing industry is expected to be worth $10 billion to $17 billion by that year. There are different reasons for this huge growth in Financial and Accounting …

Outsourcing as a key to success!

If you are wondering how outsourcing financial services can help your organization remain competitive, then this article is for you. Every business has to increase productivity, reduce operational costs and save on time. For financial organizations, this is an even bigger challenge, as the competition is stiff in this particular market. But outsourcing those financial services (to countries like India) …